CEA Industries Acquires 200,000 BNB Tokens for $160 Million
BNB Network Company, the treasury arm of CEA Industries (BNC), acquired 200,000 BNB tokens for $160 million, becoming the largest corporate holder of BNB.
- The purchase aligns with a new treasury strategy focused solely on BNB.
- This follows a $500 million private placement led by 10X Capital and YZi Labs.
- BNC has restructured its leadership, appointing David Namdar as CEO, along with former executives from CalPERS and Kraken.
- The company intends to continue acquiring BNB until treasury funds are fully deployed, potentially amassing up to $1.25 billion for investments if warrants are exercised.
- CEA Industries' shares rose 22.2% in pre-market trading, reaching $20.9.